X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN ANTONIO, Texas – Southwest Business Corporation has earned a SAS-70 certification for its mortgage insurance and collateral protection insurance systems, the company says. The SAS-70 is a nationally recognized auditing standard that provides a format for service organizations to disclose their control objectives and processes to both customers and auditors in a standardized format. SWBC received its clean bill from an independent examiner from KPMG. “The SAS-70 is very much an IT audit,” says Gregory Lawler, senior vice president and CIO for SWBC. “It is 7/8 related to information technology, and 1/8 related to product controls and procedures.” With 350 employees in offices around the country, SWBC offers a wide variety of mortgage loans, business and retail insurance, and financial solutions to credit unions. “The best news is that the credit union can provide the report to their auditors to help in planning the audit of the credit union’s financial statements. Without the SAS-70, the credit union would likely have to incur additional costs in sending their auditors back to us to perform their procedure,” says SWBC President Gary Dudley.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.